Phezzan Protocol

Screenshots

Problem Statement

There are trillions of dollars traded on orderbook exchanges everyday. However, they are heavily depend on market makers. This is because market making on orderbook is too complicated for everyday people.Phezzan Protocol is the first ever perpetuals orderbook DEX that allow retail investors to provide liquidity to orderbook. Retail LPs can select any market making strategies available on Phezzan Liquidity Pools, and deposit money into the strategy.Market making bots behind the strategy will make markets using retail LP's money. The profit will be shared between strategy dev and the retail LP.In short, we make LP experience on orderbook DEX as simple as LP experience on Uniswap! Meanwhile, LP's earning should be higher than Uniswap because they don't have impermanent loss.

Solution

The DEX took the boilerplate code from dYdX and Zigzag, with some modifications.Then our liquidity pools (that's the major value differentiation Phezzan offers) are deployed to zkSync 2.0 testnet. Our market making bots are hosted on AWS server.We use 0x (sponsor!) for the price feed of our market making bots. This is much more censorship resistant compared to using the price from Binance, etc.We use Push Protocol (EPNS) to send liquidity notification. This is especially important as we are a perp DEX. If the notice is sent in time, the investors can add collateral in time to save from being liquidated.The best thing about this project is, for the first time ever, retail LPs can provide liquidity to orderbook. We democratized the market making experience for orderbook DEX.